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Using MYOB 2015.3
I paid super using MYOB, and it has been debited against our bank account ID SP000000038268 for $908.12 on 10/8/15, but it is still showing as "processing payment" in manage payments on 14/8/15.
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Once the money is deducted from the bank account, it would go through the standard 3 business day banking clearing period in accordance with Australian Payment Clearing Association Regulation. On the fourth day the clearing house will transfer the money to individual super fund then. Therefore generally speaking it's better to allow 4 - 7 days for the payment to reach the super funds.
Sometimes there can be a delay in updating the payment status in AccountRight, if you wish to track the exact payment progress please feel free to contact our Pay Super team directly on 1300 555 931 > Option 4 during business hours AEST.
Hope this helps. Please feel free to post again if you have more queries.
I have just processed another payment and the message is "funds requested" and the funds have been credited by MYOB to our MYOB bank account.
The payment of $908.12 hasn't even been credited by MYOB to our MYOB bank account and is just showing the message "processing payment" after 5 days.
Thank you for the additional information @dennisg
Normally the status 'Funds requested' would appear when you've authorised the payment, but the money hasn't been deducted from your bank account yet, while 'Processing Payment' means the payment has been withdrawn from your bank account, and awaiting further processing.
I've just had a quick check with our Pay Super team, who can see the payment of $908.12 has been deducted from your bank account, and completed the 3 day clearing period yesterday morning. It should be on its way to the super fund right now, if it's not there already. There are also 2 payments authorised earlier today, which hasn't been withdrawn from your bank account yet.
Hope this helps. If you believe the above information is incorrect, it would be best to contact our Pay Super team directly, who can check it further for you.
that still doesn't answer the question as to why MYOB has credited our MYOB bank account in the general ledger with the 2 transfers made today, yet the payment of $908.12 has not been credited to our MYOB bank account in the general ledger 4 days after authorisation.
I assume as soon as a payment is authorised it is credited to the MYOB bank accocount in the general ledger iimmediately.
Sorry that I misunderstood your initial enquiry, I didn't realise you were referring to the bank account in AccountRight.
You are correct that the AccountRight bank account is posted immediately when you go to Pay Superannuation, tick the amounts and record the transaction. At that point, as far as AccountRight is concerned, the payment has been made.
If the Pay Super transaction of $908.12 is not showing in your bank register, most likely a wrong bank account was selected when the Pay Super transaction is recorded. Yon can check that by going to Manage Payments > click on the zoom arrow next to the transaction, and check the Pay From Account at the top.
If a wrong bank account is used, you'll need to either record a Transfer Money transaction to update the account balances, or reverse the Pay Super transaction and record it again via Pay Liabilities instead.
Please do let us know how you go.
The pay from account is correct.
I originally tried to delete this payment, but MYOB wouldn't let me, so I eventually paid it - I rather think this might have something to do with it.
Once the Pay Super transaction is recorded, it cannot be deleted then. All transactions showing in the Manage Payment screen cannot be deleted or edited, they can only be reversed.
If the pay from account is correct then it would have credited the correct bank account right away, you can drill into the transaction, press Ctrl + R to recap the transaction to double check the accounts affected. It may also be worth while to check the Pay Super transaction date, then cross reference with the bank register record on the same date.
It's great to hear the super payments have gone through successfully, and the status updated to Completed in AccountRight. Thank you for providing the update.
If you have any other queries please do not hesitate to post again at any time.